Phuket real estate expands to inland areas
Phuket’s real estate market has experienced unprecedented growth over the past few years, driven primarily by the strong recovery of tourism following the Covid-19 pandemic. Another hugely important factor contributing to this market buoyancy has been the increase in Russian investors, who led the way...
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Three massive condo developments along Phuket’s up-market Layan Beach
by Bill Barnett – c9hotelworks.com Two new condo developments are going ahead in the Layan Beach area of Phuket’s up-market west-coast beach strip. And there’s another one underway next to the Dream Beach Club at the northern end of the Layan beach strip. All in all, another 1,200+ keys added to the available rooms along …
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Bangkok’s vacant land owners growing fruit and vegetables to evade vacant-land tax
A loophole in land tax around Bangkok (actually everywhere in Thailand) is having an unexpected side effect, mostly good. Many vacant property owners in Bangkok are growing fruit and vegetables to escape the newly launched tax on their undeveloped land. For example, Banana trees are now growing on an expensive piece of land near Naradhiwat-Rajanagarindra …
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Why is Thailand’s PropTech market so valuable…
… and who will come out on top in the battle of the portals and hybrids, 2020 and beyond? How big is the Thailand economy? Is Thailand just for tourism? The explosive growth in the economy has now placed Thailand as the second largest economy in Southeast Asia. With over 70 million people now residing in …
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Top 10 Feng Shui master tips to re-organise your home
The ancient wisdom of Feng Shui looks at how the life energy or “qi” in the environment, like our homes, affect our life, health, relationships, and prosperity. In this article, we want to share tips that some famous Feng Shui masters, who are sought after by celebrities, tycoons, politicians, and big brands, recommend to help …
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Phuket resort owners Castlewood Group goes into liquidation
UPDATE: “The liquidation is for Singapore assets only, NOT Thai assets, the (Phuket) hotel is not being liquidated and operating as normal,” according to the Dream Phuket Hotel & Spa General Manager Chris Adams. PHOTO: Couple Travel The World The future of a Phuket resort in the booming Layan Beach/Cherngtalay area, funded by a Singapore-based property developer, …
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What it’s like to live in a resort in Thailand?
From clear crystal waters to dense lush jungles and rolling hills, iconic locations are magnets that attract travellers seeking relaxation and adventure to Thailand. But as more hotels and resorts start offering rooms or private villas, people may wonder what the perks and privileges of a perpetual holiday lifestyle may be. Bedroom views While city …
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Strong interest of foreign investors in Phuket’s resorts – JLL report
PHOTO: Dhawa Phuket “In the Asia Pacific, Phuket is one of the three hotel investment markets in the region that have been highlighted.” Buoyed by the rise of experience-driven travel and an affinity toward locally-inspired hotel offerings, resort assets remain a top target among investors. According to JLL Hotels & Hospitality’s Global Resort Report, resort …
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Thai government introduces property stimulus package
PHOTO: homeservicerayong.com “Buyers must earn no more than 100,000 baht a month and be registered on the Revenue Department’s tax database.” Thailand’s Finance Ministry spokesman Lavaron Sangsnit says that the three major housing associations are ready to support the government’s latest stimulus measures to support home purchases. There was a meeting between Ministry officials and the …
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Bangkok’s office rental hot spots
PHOTO: brandinside.asia And the winner is…? A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in …
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Utopia Music Festival: Dare to Dream!
On November 11, 2019, Utopia Corporation arranged the Utopia Music Festival at their condominiums in Nai Harn Beach, using a theme of superhero. The concept of ‘Dare to Dream’ showcases the outstanding and unique properties under Utopia Corporation. The music festival started with a speech from Utopia CEO Hachi Yin and Vice President Leo …
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New land tax forces land owners to evaluate their options
PHOTO: SCMP The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant taxes once the new law comes into effect. Many …
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Thai banks report strong mortgage growth despite April’s new loan regulations
Ever since the Thai government enforced the higher loan-to-value ratios on property lenders last April, borrowers and developers have been generally unhappy with the result – a sluggish new home-buyer market. But some commercial lenders, particularly some of the larger ones, have still reported strong lending growth for the first nine months of 2019. Kasikorn Bank …
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Guaranteed rental returns – Are they real?
If you’re looking to invest in overseas property, search the market and it’s not unusual to find condos for sale with guaranteed rental returns of 40%, and some even higher. Yes, it DOES seems too good to be true, but the offers are out there and the packages often come with free legal fees and …
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Tale of two cities – Hua Hin vs Pattaya
by Kornrawee Panyasuppakun Property buyers looking to buy a seaside villa or condo in a coastal town in Thailand, relatively close to Bangkok, confront one question – should I buy a property in Hua Hin or Pattaya? And rightly so, because these two choices have similar aspects. Both have kilometres of coastline, good beaches, and …
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Stricter controls and paperwork putting brakes on residential property market
The honorary president of the Thai Housing Business Association, Atip Bijanonda, is tipping the local residential market may fall by up to 10% this year starved of economic confidence, the global economic slowdown and the loan-to-value limits. But he also believes the situation is far from the situation leading up to the 1997 economic collapse. …
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Property Perfect launch promotion to boost flagging condo sales
Thailand’s property market will grow only 3 – 5% this year and the condo market is likely to end up 25% down – the executive director of Property Perfect claims it’s the the most severe situation in 10 years. The Nation reports that Wongsakorn Prasitwipat is primarily blaming the loan-to-value measures imposed by the government on …
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Bangkok land prices plateau, new tax on the way
Land prices in the Thai capital are forecast to plateau, or even drop this year. This would be the first time in more than ten years that Bangkok’s land prices have levelled off. So what is causing the sudden surge in land becoming available? Property and real estate consultants say the changes can be blamed …
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14% of condos around Bangkok are empty – good time to buy
Looking for a condo around Bangkok? Now might the right time to take the plunge with the head of the Appraisal and Estate Agents Foundation saying some areas have between 8-14% vacancy rates, some areas of Bangkok up to 17.5%. Dr Sophon Pornchokchai made the remarks at a news conference yesterday. “Adding developer price wars, …
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Wyndham adds two more hotels for Phuket’s south
PHOTOS: Artists impressions of the new Wyndham Nai Harn Resort Phuket Global hotel group Wyndham has announced two more Phuket pipeline hotels. The announcement follows a long list of new developments and openings over the next few years on the island. First for Wyndham, is a 353 key property named the Wyndham Nai Harn Resort Phuket …
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Hua Hin property market stabilises
The condominium market in Hua Hin is returning to a “balanced state” thanks to a slow down in the launch of local developments in the coastal town. This follows the opening of many developments in 2011 and 2012, causing demand to fall behind the supply. Knight Frank Thailand’s director of research Risinee Sarikaputra says that in …
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New hotel and condo developments flood Phuket’s property market
by Bill Barnett The continuing wave of developers bringing hotel investment grade real estate to the Phuket real estate market is escalating. Notable new entries include 74 units at the Melia Phuket Karon Residences that are now for sale. Pricing for one and two bedroom units starts at 8.4 million baht. A 7% three-year guarantee is offered with …
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MS Siam Tower opens on Rama III
The first premium office building at the corner of Rama III & Industrial Ring roads with an investment value of 2.6 billion baht. Thunsrisiam has announced the official opening of “MS Siam Tower”. The Board of Thunsrisiama and guests held the Grand Opening last Friday in the front of the office building before embarking on …
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“No stimulus for property sector” – Thai finance minister
The Finance Minister Uttama Savanayana told a seminar in Bangkok yesterday that the government’s stimulus packages were for the ‘grass roots economy’ and the property sector can cope on its own, without any government assistance. He was speaking at a property seminar hosted by the Krungthep Turakit newspaper yesterday. He said that that the real …
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Official complaint filed with the DSI over The Peaks Residences Condominium in Phuket
PHOTO: Inspections at the property in March this year – Kritsada Mueanhawong Bangkok MP Sira Jenjaka has gone ahead and filed a long list of formal complaints over The Peaks Residences Condominium project being built in the hills above Kata Noi in Phuket. The Palang Pracharat MP has also claimed to have had death threats …
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Hong Kong’s protests have been good for Bangkok’s luxury condo market
High end Hong Kong investment is turning away from the Chinese business hub and looking outside for new investment opportunities. Thailand’s high-end luxury condo market has been one of the beneficiaries. Keerin Chutumstid, from the Bangkok-based Magnolia Quality Development, says about 40% of the condos in a 52 storey Bangkok luxury tower development that opened last …
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Palang Pracharath MP chastises Karon Police for not offering protection during condo visit
VIDEO & SCREENGRAB: M Today The Palang Pracharath member of parliament from Bangkok, Sira Jenjaka, had an argument with Lt Col Pratuang Polmana, Deputy Superintendent of Karon Police during his inspection to the controversial Peak Condominium in the Karon area of Phuket. MP Sira was surveying the construction site of the project and the sales …
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Bank of Thailand relaxes Loan to Value to boost sluggish property market
PHOTO: booking.com The Bank of Thailand says it will relax the Loan to Value (LTV) for homebuyers purchasing residences together and that borrowers or co-borrowers applying for a loan under the first home buyers rule and who do not own any other residence would be given a 90% mortgage on a condominium and 95% for …
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Habitat Group honoured with ten awards at 2019 PropertyGuru Thailand Property Awards
PHOTO: Winners, the Habitat Group lead by CEO, Mr. Chanin Vanijwongse Thailand’s premium property-for-investment developer, Habitat Group, has received high acclaim at the 2019 PropertyGuru Thailand Property Awards being honoured with ten awards, including the highly coveted Best Boutique Developer. In addition, Habitat Group’s flagship Walden brand and its expertise in developing properties for investment …
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Thai developers revising strategies after a drop in Q2
Some of Thailand’s largest property developers have reported drops in revenue and profit in Q2 2019. The slump follows commercial banks in Thailand reining in loan approvals in response to a new loan-to-value regulation that took effect on April 1. • AP (Thailand) reported total Q2 revenue of 4.8 billion baht, down 25.9% compared to …
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Radisson brand add another Phuket hotel to its portfolio
The Radisson Hotel Group has signed a deal for a 222 key mixed-use hotel on Phuket’s north west coast at Mai Khao. Set to open in early 2023, the hotel has sales and leaseback units under a hotel residences program. Radisson Phuket Mai Khao Beach is being developed by Thai-Chinese Property Holdings. Phuket’s ongoing development …
